This is BTCUSD daily price analysis, provided by Mudrex (automated crypto investing platform). This analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4 hr candles.
You can find price analysis from previous days on blog here and on Tradingview here.
Market in last 24hrs
- BTCUSD consolidated after getting support from the lower band
- Price volatility was high. The market moved ~3.43%, between $10.56k and $10.21k
Today’s Trend analysis
- BTCUSD expected to see an uptrend as the price is moving in the ascending triangle with Bollinger band squeeze continued
- Price at time of publishing: $10,454
- BTC’s market cap: $193 Billion
- Oscillator indicators are mostly neutral. RSI at 56
- Moving average indicators are indicating an uptrend. Ichimoku Cloud is neutral
- Volume indicators observed an increase in value for the red candle and decreased for the next blue candle followed by an increase
Price expected to see an uptrend as the price is moving in the ascending triangle with Bollinger band squeeze continued. Most of the Oscillator indicators are neutral. MACD line crossed above the signal line, with the histogram in the positive direction. RSI at 56, above the midline in the neutral region. CCI at around 48, in the neutral region with an up move. Another interesting point to notice here is that the volume observed an increase in value for the red candle and decreased for the next blue candle followed by an increase indicating a strengthening buying pressure.
Most of the oscillators are neutral. CCI at 48 in the neutral region. RSI with a value of around 56 above the midline in the neutral region.
Definition:- Oscillator indicators are based on the market’s property that what goes up must come down. Reversion to the mean is one of the most fundamental properties of any market. Oscillators are predictive in nature, specifying future price momentum.
|Relative Strength Index (14)||56.63||Neutral|
|Stochastic %K (14, 3, 3)||53.35||Neutral|
|Commodity Channel Index (20)||48.62||Neutral|
|Average Directional Index (14)||15.08||Neutral|
|MACD Level (12, 26)||23.02||Buy|
|Stochastic RSI Fast (3, 3, 14, 14)||43.47||Neutral|
|Williams Percent Range (14)||−30.26||Neutral|
|Bull Bear Power||43.21||Neutral|
|Ultimate Oscillator (7, 14, 28)||59.69||Neutral|
Moving Average Indicators
Moving average (MA) indicators are indicating an uptrend. Ichimoku Cloud is neutral and Hull MA is indicating a buying opportunity.
Definition:- Moving Average indicators are lagging indicators that help catch trends when they are beginning to take effect. The idea is to buy when the trend is moving up and sell when the trend is falling.
|Exponential Moving Average (5)||10401.77||Buy|
|Simple Moving Average (5)||10373.95||Buy|
|Exponential Moving Average (10)||10389.29||Buy|
|Simple Moving Average (10)||10402.88||Buy|
|Exponential Moving Average (20)||10369.44||Buy|
|Simple Moving Average (20)||10373.08||Buy|
|Exponential Moving Average (30)||10362.77||Buy|
|Simple Moving Average (30)||10348.67||Buy|
|Exponential Moving Average (50)||10415.13||Buy|
|Simple Moving Average (50)||10278.15||Buy|
|Exponential Moving Average (100)||10649.89||Sell|
|Simple Moving Average (100)||10745.74||Sell|
|Exponential Moving Average (200)||10860.48||Sell|
|Simple Moving Average (200)||11220.84||Sell|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||10388.64||Neutral|
|Volume Weighted Moving Average (20)||10359.08||Buy|
|Hull Moving Average (9)||10390.65||Buy|
In the recent few candles, there was an increase in volume for red candles, saw a decrease for blue candles nad started to increase later, the traded volume was between 2.81k and 1.16k with the 20-candle moving average being similar to 1.34k.
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